- The downward correction of the DXY index finds support at the 91.00 region.
- The 100-day SMA, around 91.80, limits the upside for now.
The DXY index manages to bounce off recent lows near the 91.00 region.
Sellers failed to drag the DXY index below the 91.00 level, leaving the door open for the continuation of the current recovery, at least in the very near term. The recent yearly highs in the 91.60 region now appear as the next major hurdle should the bullish bias regain traction. Higher up is the 100-day SMA around 91.80.
The current bounce is considered only corrective and, in the long term and as long as the DXY index remains below the 200 SMA, today at 93.78, the bearish stance is expected to persist.
US Dollar Index DXY Daily Chart
US dollar DXY index technical levels
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